Supplemental Guarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2016

Condensed Unaudited Financial Statements, Supplemental Guarantor Information [Abstract]

Condensed Unaudited Consolidating Statements of Operations and Comprehensive Income (Loss)

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions)

For the Three Months Ended June 30, 2016	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	1,149.4		$	93.5		$	(10.5	)	$	1,232.4
Costs of revenue, excluding depreciation and amortization	—			995.0			83.7			(10.5		)	1,068.2
Depreciation and amortization	—			31.7			9.0			—			40.7
General and administrative expenses	0.6			61.5			5.8			—			67.9
Interest expense (income), net	—			27.8			(15.2		)	—			12.6
Equity in earnings of unconsolidated affiliates	—			—			(0.5		)	—			(0.5		)
Other expense (income), net	—			1.8			(0.3		)	—			1.5
(Loss) income before income taxes	$	(0.6	)	$	31.6		$	11.0		$	—		$	42.0
Benefit from (provision for) income taxes	0.2			(12.6		)	(5.2		)	—			(17.6		)
Net (loss) income before equity in income from subsidiaries	$	(0.4	)	$	19.0		$	5.8		$	—		$	24.4
Equity in income from subsidiaries, net of tax	24.4			—			—			(24.4		)	—
Net income (loss)	$	24.0		$	19.0		$	5.8		$	(24.4	)	$	24.4
Net income attributable to non-controlling interests	—			—			0.4			—			0.4
Net income (loss) attributable to MasTec, Inc.	$	24.0		$	19.0		$	5.4		$	(24.4	)	$	24.1
Comprehensive income (loss)	$	19.8		$	19.0		$	1.4		$	(20.1	)	$	20.1

For the Three Months Ended June 30, 2015	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	891.2		$	178.5		$	(3.1	)	$	1,066.6
Costs of revenue, excluding depreciation and amortization	—			784.7			164.3			(3.1		)	945.9
Depreciation and amortization	—			32.7			10.6			—			43.3
General and administrative expenses	0.6			61.7			7.0			—			69.3
Interest expense (income), net	—			28.1			(15.2		)	—			12.9
Equity in losses of unconsolidated affiliates	—			—			2.6			—			2.6
Other income, net	—			(4.8		)	(0.2		)	—			(5.0		)
(Loss) income before income taxes	$	(0.6	)	$	(11.2	)	$	9.4		$	—		$	(2.4	)
Benefit from (provision for) income taxes	0.3			4.7			(6.4		)	—			(1.4		)
Net (loss) income before equity in losses from subsidiaries	$	(0.3	)	$	(6.5	)	$	3.0		$	—		$	(3.8	)
Equity in losses from subsidiaries, net of tax	(3.3		)	—			—			3.3			—
Net (loss) income	$	(3.6	)	$	(6.5	)	$	3.0		$	3.3		$	(3.8	)
Net loss attributable to non-controlling interests	—			—			(0.1		)	—			(0.1		)
Net (loss) income attributable to MasTec, Inc.	$	(3.6	)	$	(6.5	)	$	3.1		$	3.3		$	(3.7	)
Comprehensive (loss) income	$	(0.4	)	$	(6.5	)	$	6.4		$	—		$	(0.5	)

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions)

For the Six Months Ended June 30, 2016	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	2,027.7		$	189.5		$	(10.6	)	$	2,206.6
Costs of revenue, excluding depreciation and amortization	—			1,772.3			190.9			(10.6		)	1,952.6
Depreciation and amortization	—			63.0			16.7			—			79.7
General and administrative expenses	1.2			111.5			15.2			—			127.9
Interest expense (income), net	—			55.2			(30.4		)	—			24.8
Equity in earnings of unconsolidated affiliates	—			—			(3.6		)	—			(3.6		)
Other income, net	—			(9.4		)	(2.4		)	—			(11.8		)
(Loss) income before income taxes	$	(1.2	)	$	35.1		$	3.1		$	—		$	37.1
Benefit from (provision for) income taxes	0.5			(14.0		)	(2.0		)	—			(15.5		)
Net (loss) income before equity in income from subsidiaries	$	(0.7	)	$	21.1		$	1.1		$	—		$	21.6
Equity in income from subsidiaries, net of tax	22.1			—			—			(22.1		)	—
Net income (loss)	$	21.4		$	21.1		$	1.1		$	(22.1	)	$	21.6
Net income attributable to non-controlling interests	—			—			0.2			—			0.2
Net income (loss) attributable to MasTec, Inc.	$	21.4		$	21.1		$	0.9		$	(22.1	)	$	21.4
Comprehensive income (loss)	$	14.7		$	21.1		$	(5.6	)	$	(15.4	)	$	14.8

For the Six Months Ended June 30, 2015	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	1,694.1		$	380.3		$	(4.5	)	$	2,069.9
Costs of revenue, excluding depreciation and amortization	—			1,467.4			369.5			(4.5		)	1,832.4
Depreciation and amortization	—			65.0			20.9			—			85.9
General and administrative expenses	1.3			127.9			14.1			—			143.3
Interest expense (income), net	—			55.3			(31.4		)	—			23.9
Equity in losses of unconsolidated affiliates	—			—			3.2			—			3.2
Other (income) expense, net	—			(5.7		)	0.1			—			(5.6		)
(Loss) income before income taxes	$	(1.3	)	$	(15.8	)	$	3.9		$	—		$	(13.1	)
Benefit from (provision for) income taxes	0.5			6.5			(4.1		)	—			2.9
Net loss before equity in losses from subsidiaries	$	(0.8	)	$	(9.3	)	$	(0.2	)	$	—		$	(10.2	)
Equity in losses from subsidiaries, net of tax	(9.1		)	—			—			9.1			—
Net (loss) income	$	(9.9	)	$	(9.3	)	$	(0.2	)	$	9.1		$	(10.2	)
Net loss attributable to non-controlling interests	—			—			(0.2		)	—			(0.2		)
Net (loss) income attributable to MasTec, Inc.	$	(9.9	)	$	(9.3	)	$	—		$	9.1		$	(10.0	)
Comprehensive (loss) income	$	(28.7	)	$	(9.3	)	$	(18.9	)	$	28.0		$	(28.9	)

Condensed Unaudited Consolidating Balance Sheets

CONDENSED UNAUDITED CONSOLIDATING BALANCE SHEETS (in millions)

As of June 30, 2016	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated MasTec, Inc.
Assets
Total current assets	$	—	$	1,176.4	$	145.4	$	—		$	1,321.8
Property and equipment, net	—		453.0		106.1		—			559.1
Goodwill and other intangible assets, net	—		1,045.3		145.3		—			1,190.6
Investments in and advances to consolidated affiliates, net	956.4		44.0		111.3		(1,111.7		)	—
Other long-term assets	9.3		19.5		23.6		—			52.4
Total assets	$	965.7	$	2,738.2	$	531.7	$	(1,111.7	)	$	3,123.9
Liabilities and equity
Total current liabilities	$	—	$	751.8	$	114.6	$	—		$	866.4
Long-term debt	—		976.5		21.9		—			998.4
Other long-term liabilities	—		232.3		56.6		—			288.9
Total liabilities	$	—	$	1,960.6	$	193.1	$	—		$	2,153.7
Total equity	$	965.7	$	777.6	$	338.6	$	(1,111.7	)	$	970.2
Total liabilities and equity	$	965.7	$	2,738.2	$	531.7	$	(1,111.7	)	$	3,123.9

As of December 31, 2015	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated MasTec, Inc.
Assets
Total current assets	$	—	$	927.4	$	202.4	$	—		$	1,129.8
Property and equipment, net	—		448.2		110.5		—			558.7
Goodwill and other intangible assets, net	—		1,047.4		140.5		—			1,187.9
Investments in and advances to consolidated affiliates, net	930.3		103.7		50.6		(1,084.6		)	—
Other long-term assets	9.3		24.4		17.3		—			51.0
Total assets	$	939.6	$	2,551.1	$	521.3	$	(1,084.6	)	$	2,927.3
Liabilities and equity
Total current liabilities	$	—	$	632.9	$	119.6	$	—		$	752.5
Long-term debt	—		900.1		32.8		—			932.9
Other long-term liabilities	—		275.5		23.0		—			298.5
Total liabilities	$	—	$	1,808.5	$	175.4	$	—		$	1,984.0
Total equity	$	939.6	$	742.5	$	345.9	$	(1,084.6	)	$	943.4
Total liabilities and equity	$	939.6	$	2,551.0	$	521.3	$	(1,084.6	)	$	2,927.3

Condensed Unaudited Consolidating Statements of Cash Flows

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)

For the Six Months Ended June 30, 2016	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	—		$	(30.2	)	$	58.7		$	—	$	28.5
Cash flows (used in) provided by investing activities:
Cash paid for acquisitions, net of cash acquired	—			(4.1		)	—			—		(4.1		)
Capital expenditures	—			(61.3		)	(2.6		)	—		(63.9		)
Proceeds from sale of property and equipment	—			9.1			1.0			—		10.1
Payments for other investments	—			(0.5		)	(1.5		)	—		(2.0		)
Net cash used in investing activities	$	—		$	(56.8	)	$	(3.1	)	$	—	$	(59.9	)
Cash flows provided by (used in) financing activities:
Proceeds from credit facilities	—			625.1			59.2			—		684.3
Repayments of credit facilities	—			(539.1		)	(65.5		)	—		(604.6		)
Repayments of other borrowings and capital lease obligations	—			(25.5		)	(8.0		)	—		(33.5		)
Proceeds from stock-based awards, net of tax withholdings	3.3			(0.3		)	0.3			—		3.3
Excess tax benefit from stock-based compensation	—			—			1.1			—		1.1
Payments of acquisition-related contingent consideration	—			(14.6		)	—			—		(14.6		)
Net financing activities and advances from (to) consolidated affiliates	(3.3		)	37.2			(33.9		)	—		—
Net cash provided by (used in) financing activities	$	—		$	82.8		$	(46.8	)	$	—	$	36.0
Effect of currency translation on cash	—			—			(0.9		)	—		(0.9		)
Net (decrease) increase in cash and cash equivalents	$	—		$	(4.2	)	$	7.9		$	—	$	3.7
Cash and cash equivalents - beginning of period	—			—			5.0			—		5.0
Cash and cash equivalents - end of period	$	—		$	(4.2	)	$	12.9		$	—	$	8.7

For the Six Months Ended June 30, 2015	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	(0.7	)	$	234.2		$	(72.2	)	$	—	$	161.3
Cash flows (used in) provided by investing activities:
Cash paid for acquisitions, net of cash acquired	—			(0.1		)	—			—		(0.1		)
Capital expenditures	—			(39.7		)	(8.7		)	—		(48.4		)
Proceeds from sale of property and equipment	—			3.8			0.3			—		4.1
Payments for other investments	$	—		$	(65.2	)	$	—		$	—	$	(65.2	)
Net cash used in investing activities	$	—		$	(101.2	)	$	(8.4	)	$	—	$	(109.6	)
Cash flows provided by (used in) financing activities:
Proceeds from credit facilities	$	—		$	514.6		$	329.9		$	—	$	844.5
Repayments of credit facilities	—			(437.0		)	(304.3		)	—		(741.3		)
Repayments of other borrowings and capital lease obligations	—			(25.0		)	(10.1		)	—		(35.1		)
Repurchase of common stock	(100.0		)	—			—			—		(100.0		)
Proceeds from stock-based awards, net of tax withholdings	2.0			(0.2		)	—			—		1.8
Excess tax benefits from stock-based compensation	—			0.1			—			—		0.1
Payments of acquisition-related contingent consideration	—			(39.3		)	—			—		(39.3		)
Payments of financing costs	—			(1.1		)	—			—		(1.1		)
Net financing activities and advances from (to) consolidated affiliates	98.7			(161.2		)	62.5			—		—
Net cash provided by (used in) financing activities	$	0.7		$	(149.1	)	$	78.0		$	—	$	(70.4	)
Effect of currency translation on cash	—			—			(0.6		)	—		(0.6		)
Net decrease in cash and cash equivalents	$	—		$	(16.1	)	$	(3.2	)	$	—	$	(19.3	)
Cash and cash equivalents - beginning of period	—			18.5			5.6			—		24.1
Cash and cash equivalents - end of period	$	—		$	2.4		$	2.4		$	—	$	4.8